Madoff trustee sues JPMorgan for $6.4bn


The trustee trying to recover billions for the victims of Bernard Madoff yesterday sued JPMorgan for $6.4bn, claiming it was 'wilfully blind' to the giant fraud.

Trustee Irving Picard alleges the bank continued to collect fees and profits and ignored well-documented suspicions about Madoff, the Guardian reports. Picard hopes to recover at least $1bn in f...

To continue reading this article...

Join Professional Adviser


  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
 Be the first to hear about our events and awards programmes.



Already a Professional Adviser member?


More on US

Adour Sarkissian will run the new strategy alongside Conor Walsh

Sanlam preps US absolute return fund with value approach

Market-neutral product to launch soon

Mike Sheen
clock 29 July 2019 •
Société Générale strategist Albert Edwards

SocGen's Albert Edwards: 'Fragile' US economy will be exposed

When tax reform 'sugar rush' wears off

Tom Eckett
clock 09 November 2018 •
What will be the impact of US midterm election result?

US midterms: 'Damp squib' or another 'sugar rush' for US economy?

Markets rose following result

Tom Eckett
clock 07 November 2018 •